California State Teachers Retirement System Trims Holdings in NiSource, Inc $NI

California State Teachers Retirement System lessened its holdings in shares of NiSource, Inc (NYSE:NI - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 555,430 shares of the utilities provider's stock after selling 10,490 shares during the quarter. California State Teachers Retirement System owned about 0.12% of NiSource worth $26,410,697 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wedmont Private Capital increased its stake in NiSource by 10.7% during the 2nd quarter. Wedmont Private Capital now owns 5,260 shares of the utilities provider's stock worth $247,000 after buying an additional 510 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of NiSource by 32.4% during the 2nd quarter. HB Wealth Management LLC now owns 20,479 shares of the utilities provider's stock worth $974,000 after buying an additional 5,011 shares during the last quarter. Saudi Central Bank raised its position in shares of NiSource by 90.5% in the 2nd quarter. Saudi Central Bank now owns 33,555 shares of the utilities provider's stock valued at $1,596,000 after purchasing an additional 15,941 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of NiSource during the second quarter worth approximately $26,000. Finally, AlphaGrep UK Ltd acquired a new position in shares of NiSource in the 2nd quarter valued at $259,000. 91.64% of the stock is owned by institutional investors.

NiSource Price Performance

NI traded down $0.43 on Tuesday, reaching $40.63. The company had a trading volume of 1,436,328 shares, compared to its average volume of 4,572,201. The company has a fifty day moving average of $43.44 and a 200-day moving average of $45.81. NiSource, Inc has a one year low of $39.29 and a one year high of $49.21. The company has a current ratio of 0.50, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $19.49 billion, a P/E ratio of 21.61, a PEG ratio of 3.09 and a beta of 0.54.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. NiSource had a net margin of 13.20% and a return on equity of 7.95%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. NiSource has set its FY 2026 guidance at 2.020-2.070 EPS. As a group, equities research analysts anticipate that NiSource, Inc will post 2.05 earnings per share for the current year.

NiSource Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 30th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.0%. NiSource's dividend payout ratio (DPR) is 63.83%.

Insiders Place Their Bets

In other news, EVP Melody Birmingham sold 37,509 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $42.40, for a total value of $1,590,381.60. Following the transaction, the executive vice president owned 78,527 shares in the company, valued at approximately $3,329,544.80. This represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NI. BMO Capital Markets decreased their price objective on shares of NiSource from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. Royal Bank Of Canada started coverage on NiSource in a research report on Wednesday, July 1st. They set an "outperform" rating and a $52.00 target price for the company. LADENBURG THALM/SH SH dropped their price target on NiSource from $51.50 to $51.00 and set a "buy" rating for the company in a research note on Monday, August 17th. KeyCorp decreased their price objective on NiSource from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Finally, Barclays dropped their target price on shares of NiSource from $51.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, NiSource presently has an average rating of "Moderate Buy" and an average target price of $49.64.

NiSource Profile

NiSource Inc NYSE: NI is a regulated utility company that provides natural gas and electric services to residential, commercial and industrial customers in the United States. Its operations are primarily focused on the distribution, transmission and storage of natural gas, along with electric generation and distribution in Indiana.

Through its Columbia Gas utilities, NiSource serves natural gas customers in Ohio, Pennsylvania, Virginia, Maryland, Massachusetts and Kentucky. Its Northern Indiana Public Service Company (NIPSCO) subsidiary provides natural gas and electric service in northern Indiana.

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